1. Forward-Looking Statement This presentation contains forward-looking statements, which are...
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Transcript of 1. Forward-Looking Statement This presentation contains forward-looking statements, which are...
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Forward-Looking Statement
This presentation contains forward-looking statements, which are subject to risks and uncertainties. Additional discussion of factors that could cause actual results to differ materially from management’s projections, forecasts, estimates and expectations is contained in the CarMax, Inc. SEC filings.
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Sacramento
Richmond
Raleigh
Atlanta
Nashville
Orlando
Tampa
Miami / Ft. Lauderdale
San Antonio
Dallas/Fort Worth
Houston
Los Angeles
Baltimore / DC
Chicago
Charlotte Greensboro
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11
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Mid-sized Markets (14)
Large Markets (8)
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Greenville
Knoxville1
Nation’s leading used car specialist
Pioneered used car superstore –1993
Operates 47 used car superstores
FY03: Sales: $ 4Bn Net profit: $ 95mm Separation Costs: $ 8mm Earnings ex Sep.: $103mm
1Las Vegas
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Kansas City
1Birmingham
1Memphis
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CarMax TodayUsed Car Superstores
CarMax Sells More Cars
CARMAX 5,210
Public dealers 2,023
Average dealer (NADA) 1,376
Sales/Store (Units)
2002
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Why Does CarMax Work?
Used car focus
Consumer-preferred concept
Process-driven competitive advantages
Organic growth plan
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CarMax Appraisal Process
CarMax as market maker
1mm+ appraisals
± 250,000 appraisal buys
Wholesale auctions
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CarMax
What about off-lease trend?
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CarMax
What about incentives?
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Keys To Healthy WholesaleMarket
Active
Efficient
Transparent
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